1869 $3 PR66
Cameo NGC. The Philadelphia Mint only struck 25 proof three
dollar gold pieces in 1869 and not more than half of those pieces
survive today. This example is the finest of those that appear in
our notes, with only three or four other Gem quality pieces known
to us, including the Eliasberg-Trompeter coin, and an example that
appeared in our January 1998 FUN auction. The Bass Foundation coin
probably also qualifies as a Gem proof, and the Garrett coin may
likewise be a Gem specimen. We believe that this piece is the
finest known proof of the date. NGC and PCGS have graded a total of
14 proofs, and this example is the only one of those coins to be
deemed a PR66 grade.
Both sides of this lovely piece have brilliant light yellow-gold
color with excellent contrast between the frosty devices and the
deeply mirrored fields. It is a sharply struck piece with full
design details on both sides. The fields display the usual watery
or wavy appearance that is expected on 19th century gold proof
coins. The surfaces are essentially perfect, with no useful
pedigree markers. A tiny flake above the F in OF may appear on
photographic plates, and a wispy v-shaped hairline in the reverse
margin at 4 o'clock may or may not be of any use in plate matching.
As auction appearances for proof examples of this date are few and
far between, it does not seem that pedigree research should be a
difficult task. However, many of the earlier auction catalogs had
plates of poor quality, showing few of the features needed to make
a positive match. When coins of nearly perfect quality are
examined, coins such as this piece, it is difficult to be certain
about provenance.(Registry
values: N1) (NGC ID# 28A9, PCGS# 88032)